Inflation continues its downward trend and until the end of September, despite external volatility, in Mexico it reached a level of 4.45 percent, according to the National Institute of Statistics and Geography (Inegi):
This is the lowest level for inflation since February 2021, as well as the eighth consecutive month of decline.
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For the reference month, the drop in inflation was motivated by a drop in the price of energy sources, such as gasoline, electricity or LP gas, which were lower by 4.61 percent annually, according to Inegi.
Since the beginning of last year, this merchandise segment put upward pressure on inflation due to the outbreak of the war in Russia and Ukraine, as the international cost of crude oil and other products rose.
In Mexico, the federal government implemented a series of strategies to avoid an increase in the cost of goods and services caused by this event, as well as the health crisis that was still causing shocks in the economy.
According to Inegi, during September other products that also dropped in price were oranges, chayote, avocado, green tomatoes, bananas, chicken, potatoes, apples, serrano peppers and professional services, with variations of between one and up to 28 percent.
In Oaxaca, the State of Mexico, Veracruz, Hidalgo and Querétaro, the decrease in prices was more noticeable in the ninth month of 2023.
With the data released by Inegi, inflation was slightly below the 4.46 percent estimated by analysts consulted by Citibanamex. However, it is close to the target range of the Bank of Mexico (Banxico), which ranges from two to four percent.
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By the end of the year, the Ministry of Finance and Public Credit (SHCP) predicts that this indicator will close at a level of 4.5 percent, while by 2024 it will decelerate to 3.8 percent.
2023-10-09 12:38:10
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